SHANGHAI, Aug. 27, 2013 /PRNewswire/ -- HFG CHINA announced today that it has successfully closed a cross-border M&A deal in which the brand of Somerelle, owned by Standard Fiber L.L.C., is acquired by Aomei International, a Chinese private company. With fund introduced by HFG CHINA through private placement, Aomei International finished its acquisition of Standard Fiber China and its operation entity in mainland China, Standard Fiber Shanghai. Aomei International now owns the famous foreign home-textile brand Somerelle. Standard Fiber China and Standard Fiber Shanghai are both subsidiaries wholly-owned by Standard Fiber L.L.C.
Founded by Dupont, Somerelle has been introduced into China for over 20 years. As one of the first foreign home textile brands that entered the Chinese market, Somerelle has been enjoying a high reputation in first-tier Chinese cities like Beijing and Shanghai, and it is popular among Chinese consumers pursuing a fine lifestyle.
As a privately-owned Chinese company, Aomei International acquired Somerelle to keep adopting its original technology and meanwhile add more Chinese elements to this brand. After the acquisition, the new management of Aomei International will expand new fields for Somerelle's development. By adopting the concept of "healthy sleep in an environmental-friendly home," Aomei International is determined to make Somerelle a home textile brand even closer to Chinese consumers and their way of life.
In light of capital, the fund shortage faced by Somerelle in recent years has made this overseas brand encounter a bottleneck in its development, not to mention that Somerelle had already been unacclimatized in its past localization in China. By introducing private capital, HFG CHINA helped Aomei successfully finished its acquisition of this overseas brand, and meanwhile injected capital as well as vitality and opportunities into Somerelle for its further development.
"We are glad that we helped bridging another overseas brand with China's domestic capital. The acquisiton further demonstrated the sustained popularity of famous overseas brands among Chinese enterprises," said Angela Chen, Managing Partner of HFG CHINA. "Also, the private capital introduced by HFG CHINA to this Chinese company has made its cross-border acquisition of a famous foreign brand successfully closed, which is of profound importance for Chinese companies to improve its core-competitiveness as well as its influence in the capital market. We are pleased to have developed new financing channels for private-owned Chinese enterprises. By introducing capital from multiple channels, we helped Chinese companies in seizing more investment opportunities and thus raised the shareholder value of these enterprises."
